My Friend's Place vs Mr. Hero Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of My Friend's Place vs Mr. Hero including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
  My Friend's Place Mr. Hero
Investment 156650 - 260400 113000 - 305000
Franchise Fee 0
Royalty Fee 5% 5.50%
Advertising Fee 1%
Year Founded 1980 1965
Year Franchised 1980 1970
Term Of Agreement
Term Of Agreement
Renewal Fee


Business Experience Requirements
  My Friend's Place Mr. Hero
Experience Industry experience General business experience Marketing skills

Financing Options
  My Friend's Place Mr. Hero
 
Franchise Fees No
Start-up Costs No
Equipment No
Inventory No
Receivables No
Payroll No

Training & Support
  My Friend's Place Mr. Hero
Training 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days
Support Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives
Marketing Co-op advertising, Ad slicks, National media, Regional advertising
Operations Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed International franchisees required to buy multiple units/master licenses; 15-20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 10 Absentee ownership of franchise is NOT allowed. (95% of current franchisees are owner/operators)

Expansion Plans
  My Friend's Place Mr. Hero
US Expansion Alabama, Florida, Georgia, Indiana, South Carolina, Texas
Canada Expansion
International Expansion

Start-Up Costs and Fees Mobile
Investment
My Friend's Place
Mr. Hero
Franchise Fee
My Friend's Place
Mr. Hero
Royalty Fee
My Friend's Place 5%
Mr. Hero 5.50%
Advertising Fee
My Friend's Place 1%
Mr. Hero
Year Founded
My Friend's Place 1980
Mr. Hero 1965
Year Franchised
My Friend's Place 1980
Mr. Hero 1970
Term Of Agreement
My Friend's Place
Mr. Hero 10 years
Renewal Fee
My Friend's Place
Mr. Hero


Business Experience Requirements
Experience
My Friend's Place
Mr. Hero Industry experience General business experience Marketing skills

Financing Options
 
Franchise Fees
My Friend's Place
Mr. Hero
Start-up Costs
My Friend's Place
Mr. Hero
Equipment
My Friend's Place}
Mr. Hero
Inventory
My Friend's Place
Mr. Hero
Receivables
My Friend's Place
Mr. Hero
Payroll
My Friend's Place
Mr. Hero

Training & Support
Training
My Friend's Place 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days
Mr. Hero
Support
My Friend's Place Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost
Mr. Hero Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives
Marketing
My Friend's Place
Mr. Hero Co-op advertising, Ad slicks, National media, Regional advertising
Operations
My Friend's Place Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed
Mr. Hero International franchisees required to buy multiple units/master licenses; 15-20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 10 Absentee ownership of franchise is NOT allowed. (95% of current franchisees are owner/operators)

Expansion Plans
US Expansion
My Friend's Place Alabama, Florida, Georgia, Indiana, South Carolina, Texas
Mr. Hero
Canada Expansion
My Friend's Place
Mr. Hero
International Expansion
My Friend's Place
Mr. Hero